Gold price forecast for today: XAUUSD analysis 06.12.2022

Gold is trading in the short-term uptrend. Target Zone 1816 – 1807 was reached yesterday. After the TZ was reached, buyers exited longs and took the profits, and the price started a correction. 

As a result, the price reached support (B) 1767 – 1763. Support (B) is the border of the short-term uptrend, and so, I suggest entering new gold purchases according to the pattern today. The upside target will be to break through yesterday’s high.

If support (B) is broken out, the trend will turn down, and the downside target will be the lower Target Zone 1724 – 1716.

XAUUSD trading ideas for today:

Buy according to the pattern at support (В) 1767 – 1763.
TakeProfit: 1810.
StopLoss: according to the pattern rules.

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